I933 Industries Inc.(CSE: TGIF) (OTCQX: TGIFF)is pleased to provide an update regarding its operations.
I933 Industries Inc. (CSE:TGIF)
VANCOUVER, BC, CANADA, October 18, 2019 /EINPresswire.com/ —
Update for Vertically integrated cannabis consumer packaged goods Company- 1933 Industries Inc.
VANCOUVER, BC CANADA-( Investorideas.com Newswire) I933 Industries Inc. (the “Company” or “1933 Industries”) (CSE: TGIF) (OTCQX: TGIFF), a vertically integrated cannabis consumer packaged goods company, is pleased to provide an update regarding its operations.
• 1933 Industries continues to focus its operations in the licensed US cannabis industry as a multi-state operator in Nevada, Colorado and California.
• 1933 Industries is a two-year old company built with sustainability and profitability as its primary goals and continues to execute on its growth plan.
• The Company has instituted capital efficient practices to operate a lean and sustainable business with scalable profitability as its main objective.
• The Company maintains a strong balance sheet with cash on hand to fund capital projects, the ability to service its debenture payments and currently holds no other debt.
• Experienced in the cannabis industry, the operationally focused management team raised approximately $36M over the last two years and has added $60M in assets to the Company.
• Three major capital projects were undertaken by management in order to build expanded infrastructure capacity for cannabis flower cultivation, production of concentrates, and hemp-derived CBD extraction in Nevada.
• Cultivation facility in Las Vegas was completed and the first harvest is now expected in December, bringing a 5-fold increase in flower production and raw materials for cannabis concentrates.
• New manufacturing facility in California is coming online in November as well as expanded cultivation capacity for the Company’s AMA premium flower brand.
• The Company’s proprietary Canna Hemp™ wellness line continues to establish itself as a premier CBD brand across the US and is now available in over 800 retail outlets.
• World-renowned brands such as OG DNA Genetics, and The Original Jack Herer® selected the Company’s subsidiary, Alternative Medicine Association, as their exclusive partner in Nevada, as well as luxury brand Blonde™ Cannabis, leading concentrate producer Denver Dab Co., premium cannabis brand Gotti’s Gold and custom hardware manufacturer PLUGplay.
• Leading specialty retailer Zumiez is now carrying the Company’s CBD Canna Hemp X™ sports cream, which was launched in collaboration with top skateboarding company Grizzly Griptape.
• The exclusive Birdhouse Skateboards™/Canna Hemp X™ co-branded sports cream is set to launch in November and will be available at US Zumiez stores.
Read the full news release here
About 1933 Industries Inc.
1933 Industries Inc. is a vertically integrated, brand-focused cannabis company with operations in the United States and Canada. Operating through two subsidiary companies, the Company owns leading cannabis brands as well as licensed cannabis cultivation, extraction, processing and manufacturing assets.
Our award-winning proprietary portfolio of brands include: AMA flower and AMA concentrates, CBD-infused Canna Hemp™, Canna Hemp X™, and Canna Fused™. Partners under licensing agreements include Birdhouse Skateboards™, Blonde™ Cannabis, Denver Dab Co., Gotti’s Gold, Grizzly Griptape, OG DNA Genetics, PLUGplay, and The Original Jack Herer®.
The Company owns 91% of Alternative Medicine Association, LLC (AMA), and 100% of Infused MFG LLC.
About Canna Hemp™
Canna Hemp™ CBD Relief Cream was named “Best Topical” by Leafy’s Best in State: The Top State Specific Products and Experiences of 2018.
About Canna HempX™
Canna Hemp X™ was named “Best Topicals for Pain” by Herb’s Guide to the Best Cannabis Products on the Planet. Canna Hemp X™ is a CBD sports recovery cream for athletes, bridging the gap between recovery and top performance.
For further information please contact:
Alexia Helgason, IR and Corporate Communications Director
604-674-4756 (ext. 1)
Chris Rebentisch, CEO & Director
604-674-4756 (ext. 1)
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice regarding Forward Looking Statements: This news release contains forward-looking statements. The use of any of the words "anticipate", "continue", "estimate", "expect", "may", "will", "project", "should", "believe" and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the date of this news release. Actual results could differ materially from those currently anticipated due to a number of factors and risks including various risk factors discussed in the Company's disclosure documents, which can be found under the Company's profile on www.sedar.com. 1933 Industries undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Dawn Van Zant
email us here
Source: EIN Presswire